Montreal, Canada, February 2, 2010 – Biothermica today announced the listing with the Climate Action Reserve of its pioneering ventilation air methane (VAM) project at Jim Walter Resources’ No. 4 Mine in Alabama (USA). This is the first coal mine methane activity to be listed with this recognized offsets program.
Featuring Biothermica’s VAMOX® system, the demonstration project complies with version 1.0 of the Climate Action Reserve’s Coal Mine Methane Project Protocol. As a member of the Reserve’s Coal Mine Methane workgroup, Biothermica actively participated in the protocol development process.
“This new milestone brings us closer to the monetization of the first carbon offset credits resulting from VAM abatement in America” said Nicolas Duplessis, Biothermica’s Director of Development. “We always seek to maximize the value of our carbon projects and, looking forward, we see a strong potential in the Climate Action Reserve’s rigorous protocol”.
After one year of operation, Biothermica expects to generate approximately 27,000 carbon offset credits which will be registered with the Climate Action Reserve and sold on the North American market. Following this initial ramp-up period, production is expected to reach approximately 35,000 carbon offset credits each year.
The project’s success is also a result of the close cooperation with the management and technical team of Jim Walter Resources, Biothermica’s partner. “Jim Walter Resources has found a great partner in Biothermica. We appreciate their experienced and realistic approach to carbon projects” said Rich Donnelly, Vice President of Engineering. “Getting involved with VAM oxidation early on also testifies to our dedication to reduce the environmental impact of our operations”.
Building on this achievement, Biothermica plans to develop similar ventures with other mines and create value from their VAM. Biothermica seeks to get involved as a risk sharing partner and sponsor of VAM oxidation projects, thereby allowing mines to focus on their primary activity.
About Biothermica
Founded in 1987, Biothermica is a leader in the development, financing, building and operation of projects which capture and destroy methane emitted by landfill sites and underground coal mines. As a fully integrated project developer, the company also monetizes the carbon offset credits generated by its projects on the international markets. Biothermica has completed carbon projects in North and Central America.
www.biothermica.com
About Jim Walter Resources
Jim Walter Resources Inc. is the world's largest producer of Blue Creek Coal. Known worldwide among coal producers, the Blue Creek Seam is located in the heart of Alabama's coal-rich Warrior Basin (U.S.). JWR provides coal with high BTU and low sulfur content from some of the deepest mines on the North American continent. Customers on five continents have utilized Blue Creek Coal to meet their demanding metallurgical and thermal specifications.
www.walterenergy.com
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When reviewing this information consider that it was reported as of the date listed, reflecting management views as of that date. It should also be considered in the context of the circumstances prevailing at that time and is only correct as of that date. The information can contain forward looking statements that are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements.
